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Trending ETFs

Name

As of 10/10/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$24.27

$34.6 M

11.80%

$2.86

1.14%

Vitals

YTD Return

N/A

1 yr return

N/A

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$34.6 M

Holdings in Top 10

85.4%

52 WEEK LOW AND HIGH

$24.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.14%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 81.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$5,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/10/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$24.27

$34.6 M

11.80%

$2.86

1.14%

GSMFX - Profile

Distributions

  • YTD Total Return N/A
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio -0.81%
DIVIDENDS
  • Dividend Yield 11.8%
  • Dividend Distribution Frequency SemiAnnual

Fund Details

  • Legal Name
    GMO SGM Major Markets Fund
  • Fund Family Name
    GMO Mutual Funds
  • Inception Date
    Apr 11, 2005
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jason Halliwell

Fund Description

The Fund seeks long-term total return by taking long and short positions in a range of global equity, bond, currency, and commodity markets using exchange-traded and over-the-counter (OTC) futures, forward currency contracts, swaps, and index options. The Fund also may make direct investments, including in equities and bonds. In constructing the Fund’s portfolio, GMO seeks to take advantage of its proprietary investment models for systematic global tactical asset allocation and market selection. GMO does not maintain a specific interest rate duration for the Fund’s portfolio, and the Fund’s performance is expected to have a low correlation with the performance of major asset classes over a complete market cycle.Fund assets not invested in equities or held as margin for futures, forward transactions or swaps are typically invested in cash or cash-like investments. Such investments include U.S. and non-U.S. government bonds, Treasury floating rate notes, Treasury Separately Traded Registered Interest and Principal Securities (“STRIPS”), Federal Home Loan Bank discount notes, and other agency notes, money market funds unaffiliated with GMO, shares of U.S. Treasury Fund, and the types of investments typically held by money market funds. The Fund also may invest in U.S. and non-U.S. fixed income securities of any credit quality (including below investment grade securities (commonly referred to as “high yield” or “junk bonds”)), maturity or duration.The systematic investment process GMO uses in constructing the Fund’s portfolio is based on the following strategies:Value-Based Strategies. Value factors compare the price of an asset class or market to the value of a company’s assets less its liabilities. Generally, value strategies include yield analysis and mean reversion analysis.Sentiment-Based Strategies. Generally, sentiment-based strategies assess factors such as risk aversion, analyst behavior, and momentum.In implementing the Fund’s investment strategy, GMO seeks to take risk positions for the Fund that, in GMO’s view, are proportionate to return opportunities. As a result, during periods when GMO believes return opportunities are high relative to the risks involved, the Fund typically will be exposed to more risks than it would be during periods when GMO believes return opportunities are low relative to the risks involved.GMO may at any time discontinue strategies, add new strategies, or cause the Fund to take positions that deviate from GMO’s investment models as a result of additional research, changing market conditions, or other factors. The factors GMO considers and investment methods GMO uses can change over time.The Fund gains exposure to commodities and some other asset classes by investing through a wholly-owned subsidiary advised by GMO, which does not receive any management or other fees for its services to the subsidiary. The subsidiary invests primarily in commodity-related derivatives (such as futures contracts on commodities and commodity indices and over-the-counter swaps on commodity indices) and fixed income investments but also may invest in any other investment in which the Fund is permitted to invest directly. References in this Prospectus to actions taken by the Fund refer to actions taken by the subsidiary as well as the Fund. The Fund does not invest directly in commodities and commodity-related derivatives.The Fund is not limited in its use of derivatives or in the total notional value of its derivative positions. As a result of its derivative positions, the Fund typically has gross investment exposures in excess of its net assets (i.e., the Fund typically is leveraged) and therefore is subject to higher risk of loss than it would be in the absence of such leverage. The Fund’s performance can depend substantially on the performance of assets or indices underlying its derivatives even though it does not own those assets or indices. In addition, the Fund may lend its portfolio securities.
Read More

GSMFX - Performance

Return Ranking - Trailing

Period GSMFX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -73.0% 19.4% 99.28%
1 Yr N/A -9.1% 86.9% 86.55%
3 Yr N/A* -9.5% 16.2% 80.32%
5 Yr N/A* -4.9% 14.4% 75.34%
10 Yr N/A* -0.9% 7.5% N/A

* Annualized

Return Ranking - Calendar

Period GSMFX Return Category Return Low Category Return High Rank in Category (%)
2023 -2.9% -22.7% 305.1% 24.81%
2022 -12.1% -9.8% 27.3% 81.85%
2021 5.0% -20.8% 10.9% 13.33%
2020 0.4% -12.4% 29.4% 84.16%
2019 -2.5% -10.5% 15.8% 82.72%

Total Return Ranking - Trailing

Period GSMFX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -73.0% 19.4% 99.28%
1 Yr N/A -13.4% 86.9% 85.45%
3 Yr N/A* -9.5% 16.2% 77.51%
5 Yr N/A* -5.3% 14.4% 70.85%
10 Yr N/A* -0.9% 7.5% N/A

* Annualized

Total Return Ranking - Calendar

Period GSMFX Return Category Return Low Category Return High Rank in Category (%)
2023 3.6% -22.7% 305.1% 25.19%
2022 -5.7% -9.8% 27.3% 82.26%
2021 7.5% -20.8% 10.9% 13.78%
2020 1.9% -8.4% 29.4% 61.39%
2019 -2.1% -10.2% 18.0% 23.56%

NAV & Total Return History


GSMFX - Holdings

Concentration Analysis

GSMFX Category Low Category High GSMFX % Rank
Net Assets 34.6 M 1.5 M 5.01 B 35.06%
Number of Holdings 86 4 4478 77.03%
Net Assets in Top 10 82.2 M -398 M 2.55 B 20.85%
Weighting of Top 10 85.43% 13.1% 100.0% 14.68%

Top 10 Holdings

  1. State Street Institutional Treasury Money Market Fund 53.86%
  2. United States Treasury Floating Rate Note 17.98%
  3. Japan Treasury Discount Bill 3.21%
  4. Japan Treasury Discount Bill 3.16%
  5. Japan Treasury Discount Bill 2.86%
  6. Japan Treasury Discount Bill 1.28%
  7. Japan Treasury Discount Bill 1.07%
  8. State Street Global Advisors Liquidity PLC - US Treasury Liquidity Fund 0.99%
  9. United States Treasury Floating Rate Note 0.52%
  10. PURCHASED USD / SOLD CHF 0.50%

Asset Allocation

Weighting Return Low Return High GSMFX % Rank
Cash
80.77% -6278.21% 410.43% 49.82%
Bonds
18.50% -326.45% 6347.80% 7.42%
Other
0.73% -21.53% 148.54% 96.47%
Stocks
0.00% -3.75% 97.95% 90.81%
Preferred Stocks
0.00% -0.12% 46.97% 46.64%
Convertible Bonds
0.00% 0.00% 87.92% 62.90%

Bond Sector Breakdown

Weighting Return Low Return High GSMFX % Rank
Cash & Equivalents
66.44% 0.27% 100.00% 70.67%
Government
10.21% 0.00% 84.29% 3.18%
Derivative
0.73% 0.00% 88.81% 59.01%
Securitized
0.00% 0.00% 56.83% 55.83%
Corporate
0.00% 0.00% 87.73% 76.68%
Municipal
0.00% 0.00% 27.33% 28.27%

Bond Geographic Breakdown

Weighting Return Low Return High GSMFX % Rank
US
18.50% -126.19% 6311.18% 6.71%
Non US
0.00% -382.37% 121.02% 72.44%

GSMFX - Expenses

Operational Fees

GSMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.14% 0.29% 31.15% 86.69%
Management Fee 1.00% 0.00% 2.50% 48.06%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.30% N/A

Sales Fees

GSMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

GSMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 94.74%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

GSMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 81.00% 0.00% 491.00% 23.79%

GSMFX - Distributions

Dividend Yield Analysis

GSMFX Category Low Category High GSMFX % Rank
Dividend Yield 11.80% 0.00% 4.56% 12.37%

Dividend Distribution Analysis

GSMFX Category Low Category High Category Mod
Dividend Distribution Frequency SemiAnnual Annually Quarterly Annually

Net Income Ratio Analysis

GSMFX Category Low Category High GSMFX % Rank
Net Income Ratio -0.81% -2.51% 6.83% 39.93%

Capital Gain Distribution Analysis

GSMFX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Semi-Annually Annually Annually Annually

Distributions History

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GSMFX - Fund Manager Analysis

Managers

Jason Halliwell


Start Date

Tenure

Tenure Rank

Oct 03, 2011

10.67

10.7%

Head, Systematic Global Macro Team, GMO. Mr. Halliwell has been responsible for overseeing the portfolio management of GMO’s systematic global macro portfolios since 1999.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.02 17.37 4.48 1.67